40,097 Shares in Utz Brands, Inc. (NYSE:UTZ) Acquired by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C purchased a new stake in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 40,097 shares of the company's stock, valued at approximately $667,000.

Other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its position in Utz Brands by 64.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company's stock valued at $1,789,000 after acquiring an additional 38,047 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Utz Brands by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company's stock valued at $1,068,000 after acquiring an additional 2,540 shares during the period. Principal Financial Group Inc. purchased a new position in Utz Brands during the 2nd quarter valued at about $914,000. Bahl & Gaynor Inc. lifted its position in Utz Brands by 45.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company's stock valued at $3,993,000 after acquiring an additional 74,633 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Utz Brands by 22.0% in the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company's stock worth $20,607,000 after buying an additional 223,462 shares during the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on UTZ. Barclays cut their price target on shares of Utz Brands from $23.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, July 19th. Piper Sandler reiterated an "overweight" rating and set a $22.00 price target on shares of Utz Brands in a report on Wednesday, August 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Utz Brands in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Utz Brands has an average rating of "Moderate Buy" and an average price target of $20.36.

Utz Brands Stock Performance

UTZ stock traded up $0.40 during trading on Friday, reaching $17.89. The stock had a trading volume of 328,751 shares, compared to its average volume of 781,940. Utz Brands, Inc. has a 52 week low of $11.17 and a 52 week high of $20.04. The stock's 50 day moving average is $16.77 and its two-hundred day moving average is $17.39. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.52 billion, a PE ratio of -71.12, a PEG ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. During the same quarter in the prior year, the company earned $0.13 earnings per share. Utz Brands's revenue was down 1.8% on a year-over-year basis. As a group, equities analysts anticipate that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Announces Dividend

The firm also recently announced a None dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be given a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands's dividend payout ratio is currently -96.00%.

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares of the company's stock, valued at approximately $684,352.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.00% of the stock is currently owned by company insiders.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.